Last night, Georgina Chapman and Keren Craig enjoyed the perfect summer evening for a rooftop celebration to launch their Marchesa contemporary off-shoot: Marchesa Voyage. Suitably fancy guests mingled and sipped “light” fruity cocktails atop the swanky Gramercy Park Hotel while browsing displays of the new collection, which officially hits stores on September 1.
We chatted with the designers about the new collection, pleaded with them for hints about their upcoming spring show (it half-worked), and pressed them for their thoughts on diversity on the runway.

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Cara Delevingne and Pharrell Williams look ADORBS in this teaser shot from Vogue UK's September issue. Fun fact: Pharrell has a son named Rocket Man. Yup.{The Front Row View}
How does Martha Stewart constantly manage to find herself in the middle of trouble? As JC Penney struggles to climb back up to its former levels of success, a legal battle with Macy's over whether JCP has the right to sell Martha Stewart Home products is causing even more turmoil for the already troubled retailer. {New York Times}
Speaking of homes, be a voyeur into the homes of iconic fashion designers like Cristóbal Balenciaga, Geoffrey Beene, and Hubert de Givenchy. {Architectural Digest}
Proenza Schouler hired KCD Paris to spearhead its press coverage in Europe. {WWD}

It's been a while since we've really heard anything about William Rast, the men's and women's clothing label Justin Timberlake founded with his friend Trace Ayala back in 2005.
The line was one of few celebrity clothing endeavors to be immediately embraced by the fashion industry--everyone from Anna Wintour to JC Chasez attended the runway shows and remember that Target collaboration?
After that, it seemed like someone lost interest, whether it was us, the fashion industry, or Timberlake himself (when was the last time he stepped out in something other than Tom Ford--let alone William Rast?), but apparently it's still around.

If you're a cheating woman and you need to know what to wear this summer to fit in with your floozy peers, you're in luck.
Ashley Madison, the extramarital dating site, recently conducted a study exploring the relationship between fashion and female philanderers. 52,390 cheating women (presumably Ashley Madison members) responded to the survey, and the results are pretty fascinating--and also somewhat unexpected.

With Coty's IPO imminent, Michael Kors doing gangbusters on the stock market and Fifth & Pacific selling shares via Facebook, we've never been more compelled to personally invest in the fashion and beauty brands we love.
But before you go nuts on an E-Trade, here's a little tutorial. I've consulted Hitha Prabakhar and Brian Sozzi—two analysts who know a lot about the stock market, but also a lot about fashion and retail—on how to invest in a smart way.

J.C. Penney wants you back. It's sorry it ever tried to do away with coupons and sales. It wants you to know, customers, that you're the love of its life and that its learned from its mistakes. So, please come back? Pretty please?
In an unusual move, the troubled retailer has released 15 and 30 second commercials apologizing to customers.

Though J.C. Penney hasn't yet recovered from its roller coaster year (CEO Ron Johnson was outed earlier this month after his ambitious restructuring plans failed to see immediate results), the retailer has found an important cheerleader (a lifeline even?) in investor and philanthropist George Soros.

And so the JC Penney mass exodus continues.
The latest Ron Johnson (the recently ousted former CEO) hire to leave the struggling retailer? Beloved menswear street style dandy, Nickelson Wooster, who was appointed to a creative director position back in April of last year.

J.C. Penney CEO Ron Johnson is out, according to a press release sent out by the company. The store's former CEO, Mike Ullman, will replace him. This news should not come as a surprise to anyone who's been watching the Penney saga unfold. Johnson, a former Apple and Target exec who joined J.C. Penney in November 2011, tried to bring the long-struggling store into the 21st Century with an updated design, tons of designer collaborations, lower prices, and the elimination of discounts. (Each of these tactics, particularly the last one, alienated what's left of Penney's loyal customers. People are creatures of habit. They're used to markdowns. Even if a product is cheaper in the first place, they can't help but want to see it discounted.)
Anyway, Johnson also brought in some great brands to Penney, including Martha Stewart (whoops, that resulted in a lawsuit), Michelle Obama favorite Duro Olowu, MNG by Mango and Joe Fresh. These were all great prospects. But no matter how hard Johnson tried, no matter how good his strategy was, it was never going work. Here's why.

Does Karl Lagerfeld say no to anything? The ubiquitous designer is collaborating with purveyor of plastic shoes, Brazilian footwear company Melissa for four seasons. {WWD}
Sally Field had a Kristen Stewart-esque surprise hiding under her gorgeous Valentino gown at the Vanity Fair Academy Awards after party. {HuffPo}
Natalie Portman's latest Dior ad, directed by Sofia Coppola, has us seeing "La Vie en Rose." {Telegraph}

Marchesa at prom: Not just for Blair Waldorf anymore! More deets on Georgina Chapman's "special occasion" gown and dress collection for JCPenney. It's called Pearl. {WWD}
More designers are finally starting to pay models for walking in their shows, instead of just gifting them clothes. But you'll never guess who's still holding out...{BuzzFeed}
Kate Upton talks to Ellen DeGeneres about shooting her Antarctic Sports Illustrated cover, plus her favorite body part--but it's not what you're thinking. {HuffPo}
This hurts more than a blister: Manolo Blahnik tells Interview Magazine that he doesn't find "anonymous girls" like Anne Hathaway or Amanda Seyfried very memorable. Burn. {Page Six}

Queen Elizabeth II is getting downright festive in her holiday dress (well, for her, anyway). {HuffPo}
Jane Fonda is 75 (!) and credits her youthful looks to good genes...and, okay, a good plastic surgeon. {US Weekly}
A new study shows a majority of women prefer 1950s-eqsue men; let's not try to unpack the feminist implications of that and just enjoy looking at Jon Hamm as Don Draper, shall we? {Daily Mail}
Andrej Pejic covers Elle Serbia in head to toe Jean Paul Gaultier. {Styleite}

The designers involved in the massive Target and Neiman Marcus holiday collab dish on their goods. Is it too soon to start a wish list? {Style}
Who did Heidi Klum call "cowards" on Late Night with Jimmy Fallon? You're not excused 'til you've been Auf'd. {HuffPo}
Vans is teaming up with cool Parisian brand Kenzo on a second line of sneakers, exclusively for dudes. {Refinery29}
Nina Garcia is partnering with JC Penney to be its "Style Voice and fashion collection curator." {Nina Garcia's Tumblr}

Alexa Chung is back on the old modeling horse for Parisian brand Maje's fall ad campaign. {WWD}
Hearst, which recently acquired Elle magazine, is planning to bring back the short-lived spin-off that was Elle Accessories. Shoe lovers rejoice. {The New York Times}
Justin Bieber launched his new perfume, called "Girlfriend," this week. A zillion screaming girls screamed even more. {WWD}
Jennifer Hudson, American Idol alum and Weight Watchers frontwoman, is the newest celeb to get her own clothing line with QVC. It will only feature clothes for "average" sized women, meaning sizes 6 through 16. {Stylelist}